BUSINESS BRIEFS
Greenspan backs homeowner help
Advertiser Staff and News Services
WASHINGTON — Alan Greenspan, former chairman of the Federal Reserve, suggested yesterday that a tax break or other government financial help for homeowners facing the mortgage crunch would be the best political fix for the economy.
He cautioned against meddling with home prices or interest rates to address the housing problem.
Greenspan did not specifically call for a tax cut. Instead, he called for the government to apply money to the severe housing market slump. Such a cash infusion would typically come through a tax break or a new government spending program.
"Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this," Greenspan said during an appearance on ABC's "This Week."
DAMAGED OIL WELL CAPPED IN GULF
MEXICO CITY — Oil workers have capped a damaged oil platform in the Gulf of Mexico that spilled crude and natural gas for almost two months after a deadly high-seas crash, Mexico's state-owned oil company announced yesterday.
At least 21 employees were killed in the Oct. 23 crash with a drilling rig during a storm.
Petroleos Mexicanos workers injected concrete into the well after installing a new valve assembly — blocking the well "definitively," the company said.
Roughly 420 barrels of oil per day spilled from the damaged platform since late October.
VOICE MAIL TO TEXT UNVEILED BY ALLTEL
LITTLE ROCK, Ark. — Alltel Corp. is unveiling a new feature that uses voice-recognition software to allow wireless phone customers to read their voicemail messages as text messages.
Monthly fees for the Voice2TXT service start at $4.99, and users will still have the option to listen to the messages.
Alltel is using technology developed by Britain-based SpinVox.
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